C01213-2019

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Feb 28, 2019
2. SEC Identification Number
A200207283
3. BIR Tax Identification No.
006-036-274
4. Exact name of issuer as specified in its charter
P-H-O-E-N-I-X PETROLEUM PHILIPPINES, INC.
5. Province, country or other jurisdiction of incorporation
DAVAO CITY
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
Stella Hizon Reyes Road, Bo. Pampanga, Lanang, Davao City Postal Code 8000
8. Issuer's telephone number, including area code
082-235-8888
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON SHARES 1,403,304,232
PREFERRED SHARE 20,000,000
11. Indicate the item numbers reported herein
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The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Phoenix Petroleum Philippines, Inc.PNX

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Press Release: “Phoenix Petroleum, CNOOC, PNOC sign MOU for LNG project”.
Background/Description of the Disclosure

Gentlemen:

After a series of engagement talks between the three parties, a Memorandum of Understanding was entered into by State-owned firm Philippine National Oil Co. (PNOC), Phoenix Petroleum and CNOOC Gas and Power Group Co. Ltd (CNOOC G&P). The Memorandum of Understanding was signed by Phoenix Petroleum President and Founder Dennis Uy, CNOOC G&P Chief Finance Officer and Vice President Wu Zhengxing, and PNOC President and CEO Admiral Reuben Lista (Ret) in a meeting held at the Department of Energy office in Taguig City on February 28, 2019. The signing of the MOU was made in the presence of DOE’s Secretary Alfonso Cusi.

The MOU will allow the three companies to explore and discuss business opportunities and cooperation in relation to the equity investment in Tanglawan Philippine LNG Inc. and other companies relating to the project, PNOC facilities, market development, PNOC banked gas, and future energy projects.

“We warmly welcome the potential addition of PNOC in the LNG hub project we have been planning to venture on with CNOOC G&P. The LNG hub is a crucial project that will provide long-term solutions for our country’s energy needs, and the strategic alliance among our companies will further secure the continuous development of this venture,” Phoenix Petroleum Chief Operating Officer Henry Albert Fadullon said.

The LNG hub project is expected to break ground through its regasification and receiving terminal with a capacity of 2.2 mtpa within the year, with commercial operations targeted to start by 2023.

The facility will help support the demand for a clean, competitive, and environment-friendly energy source in Luzon, and provide energy security for the country. It also aims to develop a gas-fired power generation facility with up to 2,000 megawatts installed capacity.

Also present in the MOU signing ceremony were DOE’s Senior Undersecretary Jesus Posadas, and Undersecretary Donato Marcos, CNOOC G&P’s Chairman Wu Wenlai, and LNG Project General Manager Shan Tongwen, PNOC’s Senior Vice President for Management Services Glenda Martinez and Senior Vice President for Legal, Admin. and Estate Mgt. Services Graciela Barleta, and Phoenix Petroleum’s Senior Vice President for External Affairs, Business Development, and Security Atty. Alan Raymond Zorrilla, and General Manager for Business Development, Strategies, and Portfolio Joselito de Jesus.
Other Relevant Information

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Filed on behalf by:
Name Rosalio II Roque
Designation Legal Manager